Redfin

JULY 30, 2025

They require higher credit, lower debt-to-income ratios, and more assets. Stricter qualifications: Because these loans carry greater risk, lenders require higher credit scores, bigger down payments, and lower debt-to-income ratios. Others will lend as much as $10 to $15 million and beyond.

Loans

The Mortgage Report

JULY 11, 2025

Andrea Blais , SVP of real estate lending at SchoolsFirst Federal Credit Union: There are several, promising signs for first-time home buyers trying to find the right property to purchase. Jay Crowell , national retail division president at Cornerstone Home Lending : We’re seeing differential at a more micro level. Time to make a move?

FHA 203k rehab loan

Redfin

JULY 8, 2025

One of the most common surprises for homebuyers is a last-minute credit check before closing. So, when is the last credit check before closing and what does it mean for your loan? Lenders usually perform a final soft credit check 1 to 3 days before closing to confirm your financial status hasn’t changed.

Debt-to-income ratio

Redfin

JULY 24, 2025

2025 Loan Lending Standards for First-Time Home Buyers Loan Type Credit Score Debt-to-Income Ratio Income Employment Occupancy Mortgage Insurance Loan Limits FHA 580 or higher 43% or less Borrowers need to show steady income and proof of employment, typically with at least two years of history.

FHA loan

Rochester Real Estate

NOVEMBER 5, 2015

A mortgage lender will check your credit score and financial history to decide how much they can lend to you. Final Loan Approval Before you close on the home, avoid making any changes to your finances that could undermine your approval. This will also tell you the money that needs to be paid on closing day. Contact Me!

Purchase and sale agreement

Redfin

JULY 31, 2025

They cover topics like budgeting, building credit, mortgage options, house hunting, and closing. State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help. Save for closing costs Closing costs are fees and expenses you’ll pay when finalizing the home purchase.

Purchase and sale agreement

Marco Santarelli

JULY 11, 2025

Lenders perceive lending in such regions as riskier. This includes credit score, income, debt-to-income ratio, down payment, and the type of loan you choose. They're influenced by a myriad of factors, including: Bond Market: Mortgage rates closely track the 10-year Treasury yield.

Mortgages

Marco Santarelli

JULY 2, 2025

This trend indicates a bit of relief for potential homebuyers and those looking to refinance their existing mortgages, although the changes remain closely monitored by market analysts. Understanding Your Financial Position : Your credit score, income levels, and debt-to-income ratio significantly affect the rates you may be offered.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

Lenders rely on credit scores to evaluate the risk of lending to borrowers. Joint borrowers must have a stable employment history and sufficient income to meet the lender’s requirements. Lower debt-to-income ratios indicate a higher likelihood of loan approval. chat_bubble close How Can I Help?

Debt-to-income ratio

Marco Santarelli

JUNE 16, 2025

This announcement could dramatically impact interest rates and, consequently, the mortgage lending world. Remember that these are just averages , and the specific rate you'll qualify for will depend on factors like your credit score, down payment, and debt-to-income ratio. This, in turn, can push mortgage rates down.

Mortgages

Norada Real Estate

JULY 2, 2025

This trend indicates a bit of relief for potential homebuyers and those looking to refinance their existing mortgages, although the changes remain closely monitored by market analysts. Understanding Your Financial Position : Your credit score, income levels, and debt-to-income ratio significantly affect the rates you may be offered.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

In the simplest terms the main difference is that a bank has its own lending criteria and offers loans by using its own funds. However, fees for the loans can be higher than a bank and it’s likely that your loan will be sold on the secondary market after closing. Some of the homeowners were victims of predatory lending practices.

Finance

Marco Santarelli

MAY 2, 2025

Following closely behind, you'll find relatively low rates in Tennessee, Texas, California, Florida, Michigan, North Carolina, and Pennsylvania. Texas: Despite its size and varied markets, Texas generally benefits from a strong economy and a competitive lending environment. What Makes Mortgage Rates Tick?

Mortgages

The Close

JULY 1, 2025

As a real estate agent, understanding FHA loan requirements can allow you to guide your clients towards homeownership, close more deals, and earn the trust of first-time homebuyers. FHA mortgage loan Conventional mortgage loan Credit score 500 620 Income required (debt-to-income ratio) 50% 36% to 45% Minimum down payment 3.5%

FHA loan

Marco Santarelli

MARCH 20, 2025

Therefore, it's essential to carefully evaluate your potential savings and closing costs before making a decision. The Fed's actions, such as adjusting the federal funds rate (the rate at which banks lend to each other overnight), can have a ripple effect on mortgage rates.

Mortgages

Norada Real Estate

JUNE 6, 2025

These differences can affect the costs and risks associated with lending, ultimately influencing the rates offered. Remember, your actual rate will depend on your unique financial situation , including your credit score, income, debt-to-income ratio, and the size of your down payment.

Mortgages

Housing Wire

APRIL 2, 2025

It also provides total lending efforts approaching $700 million annually when including down payment assistance programs. But right before closing, the underwriter found out the buyer had bought a car, which pushed them out of their debt-to-income ratio. The deal almost fell through.

Debt-to-income ratio

Marco Santarelli

MARCH 6, 2025

LTV (Loan-to-Value Ratio): This compares the amount of the loan to the appraised value of the home. Debt-to-Income Ratio (DTI): The ratio of your monthly debt payments to your gross monthly income. The Bond Market: Mortgage rates are closely tied to the yields on U.S. A lower DTI is better.

Mortgages

Marco Santarelli

MARCH 17, 2025

You need to carefully calculate the costs of refinancing (like closing costs) and compare them to the potential savings over time to see if it makes financial sense for you. This is the interest rate at which banks lend money to each other overnight. A good mortgage calculator can be really helpful in making this decision.

Mortgages

Marco Santarelli

MAY 13, 2025

Following closely behind these giants, the states with the next best mortgage rates include Georgia, Hawaii, Virginia, and Washington. Lender Risk Management: Ultimately, each lending institution has its own way of assessing and managing risk. This increased competition can naturally drive rates down as lenders vie for your business.

Mortgages

Marco Santarelli

MAY 22, 2025

Your Individual Profile Matters: The rate you ultimately secure will depend on your credit score, income, debt-to-income ratio, and the size of your down payment. Factor in All Costs: Remember to consider other costs associated with buying a home, such as property taxes, homeowners insurance, and closing costs.

Mortgages

Redfin

JULY 30, 2025

In fact, today’s first-timers are older than ever, thanks to factors like rising home prices , student loan debt, and stricter lending standards. Debt-to-income (DTI) ratio : Your monthly debt payments should be no more than 36%–43% of your gross income. Yes, your debt-to-income ratio matters.

FHA loan

The Close

MAY 6, 2025

Check The Closes roundup of the best fix and flip loans for some vetted options. Methodology: How we evaluated the best home improvement loans At The Close, our highest priority is giving real estate professionals accurate, objective information to make smart choices and grow a successful real estate business.

Loans

Marco Santarelli

FEBRUARY 2, 2025

Influencing Factors : Future mortgage rates are closely tied to inflation trends and the Federal Reserve's policies. The Fed's decisions are closely watched by both lenders and borrowers, as any changes could ripple throughout the financial markets. Recent Trends : A decrease from previous averages of 6.71% last month.

Mortgages

Marco Santarelli

FEBRUARY 8, 2025

Current Rates Overview According to data from Zillow as of today: Mortgage Type Average Rate 30-Year Fixed 6.60% 15-Year Fixed 5.87% 7/1 ARM 6.87% 5/1 ARM 6.85% 30-Year FHA 6.29% 30-Year VA 5.95% These average rates reflect the current lending environment and are crucial for any buyer or refinancing homeowner to consider.

Mortgages

Housing Wire

MARCH 23, 2021

With e-signatures enabled for virtual closings, it has become more difficult for lenders to authenticate income and asset information, while the incentive to cheat is boosted by desperation or perceived opportunity. The post Stepping up the fight against fraud in mortgage lending appeared first on HousingWire.

Lending

Housing Wire

MARCH 25, 2021

While student loan debt isn’t the biggest factor in determining a credit score, it’s still something lenders look at. If your credit isn’t good, lenders are less likely to lend you money. Your Debt-To-Income Ratio Is High. How much of that money do you use to pay off debt? buying a home is expensive.

Debt-to-income ratio

Housing Wire

MARCH 3, 2024

Looking back, last year’s market was dominated by purchase lending, with loans to buy homes making up 82% of a historically low number of originations. The market in which these folks purchased their first home was one of record house prices, ballooning down payments , rising rates and elevated debt-to-income ratios (DTIs).

Loans

Housing Wire

AUGUST 7, 2023

The financial incentives are simply not there for mortgage companies that want to do more minority lending; therefore, it shouldn’t be a surprise that most banks and mortgage lenders do just enough minority lending to stay out of regulatory trouble but secretly have no desire to do much beyond that.

Closing

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. “With BorrowSmart Access, we’re delivering on that mission by providing ways to reduce cost in the homebuying process.”

Debt-to-income ratio

Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. This is because they don’t require employment or income documentation and close quickly.

Debt-to-income ratio

Housing Wire

MARCH 30, 2021

Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for. So, you focus on being a loan expert, and the qualification team can focus on closing those loans.”. Improving the Customer Experience.

Pre-qualification

Housing Wire

MARCH 16, 2022

“We are going to see an increase in some of the non-QM lending. Some lenders, however, are closely eyeing regulatory changes that could dampen the non-QM market by expanding the pool of loans able to get QM status. I don’t think it’ll ever be a significant chunk. The new rule is slated to be implemented on Oct. 1, 2022.

Banks

Housing Wire

AUGUST 8, 2024

That gets rolled into their debt-to-income ratio, which means they look like a riskier buyer, which means their mortgage loan gets priced higher, which means they have an additional disadvantage because the cost of lending goes up for them. So, this is a further challenge for them to even enter the housing market.”

Debt-to-income ratio

Housing Wire

JANUARY 14, 2022

Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Acra Lending, which rebranded from Citadel Servicing last year , more than doubled its headcount year-over-year from 200 employees to 420 in 2022. “The riches are in the niches.”

Debt-to-income ratio

Housing Wire

JUNE 29, 2022

The report found that while the majority (75%) feel confident about eventually securing a mortgage, a large percentage of millennial and Gen Z future homebuyers see an insufficient down payment or closing funds (46%), their high debt-to-income ratio (45%) and bad or no credit (38%) as barriers to approval.

Debt-to-income ratio

Housing Wire

NOVEMBER 7, 2023

Media stories about home affordability rarely cover how the GSEs allow for low down payments and higher debt-to-income ratios. And when lenders — not headlines — explain cash-to-close and monthly all-in costs relative to incomes, the lights go on for borrowers.

Debt-to-income ratio